The annual inflation adjustment for Social Security benefits was released on Friday and beneficiaries are set to see larger benefits in 2026.

Social Security's annual cost-of-living adjustment (COLA) will be 2.8% next year, following the announcement by the Social Security Administration. On average, Social Security retirement benefits will increase by about $56 per month starting in January.

The annual COLA has averaged about 3.1% over the last decade, and was 2.5% in 2025. Inflation trending higher this year caused the COLA to be larger.

"Social Security is a promise kept, and the annual cost-of-living adjustment is one way we are working to make sure benefits reflect today's economic realities and continue to provide a foundation of security," said SSA Commissioner Frank Bisignano.

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